[Financial Regulation Sandbox] Providing Legal Advisory for Application of Innovative Financial Services
Article posted in 2022-07-22 11:38:58 | VEAT
Law firm Veat provided legal counsel related to the Financial Regulatory Sandbox and Innovative Financial Services application, in response to a referral from A, an education startup company.
A, an operating education startup, faced difficulties in providing seamless services due to restrictions under the current laws regarding the services it sought to apply for. Therefore, A sought to apply for a Financial Regulatory Sandbox and Innovative Financial Services. Accordingly, A consulted with Law firm Veat, a law firm with extensive experience in regulatory sandbox-related business operations.
Law firm Veat first thoroughly reviewed the restrictions imposed on A’s intended service under the current Financial Investment Law and communicated with relevant agencies to provide legal counsel related to A’s Innovative Financial Services application. Specifically, it quickly grasped the recently revised application procedures and guided A on the relevant procedures for the application form.
Some of the regulatory sandbox projects undertaken by Law firm Veat are listed below. Notably, Veat’s representative attorney, Songdo-yeong Bae, was recognized for his contributions to the establishment and expansion of the regulatory sandbox system through the review and consultation of over 200 regulatory sandbox proposals and the awarding of the National Commendation Award in 2020 for his efforts.
- Information and Communications Technology Promotion Agency, 2018 ICT·Convergence Regulatory Reform Consulting
- Information and Communications Technology Promotion Agency, 2019 ICT Regulatory Sandbox Counseling and Receipt Consulting
- Information and Communications Technology Promotion Agency, 2019 ICT Convergence Regulatory Reform Consulting (Post-Management)
- Korea Institute of Industrial Technology Promotion, 2020 Industrial Convergence Regulatory Sandbox Legal Consulting
- Korea Institute of Industrial Technology Promotion, 2020 Regulatory Sandbox Special Case Company Post-Management Operation Support Project
- National Research Institute of Science and Communication, 2019 Smart City Proof-of-Concept Service Legal Consulting Support
- National Research Institute of Science and Communication, 2020 Smart City National Demonstration City Proof-of-Concept Service Legal Consulting Support Project
- Information and Communications Technology Promotion Agency, 2021 Research Project on Improving the Legal System for Virtual Integrated Technology
- Information and Communications Technology Promotion Agency, 2021 ICT Regulatory Sandbox Regulatory Improvement Consulting
- National Research Institute of Science and Communication, 2021 Smart City Regulatory Sandbox Legal Consulting etc.
If you need legal counsel regarding the application form for the Financial Regulatory Sandbox, in addition to the application form itself, please contact Law firm Veat.
Thank you.
Law firm Veat.